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Interest OnlyInterest only loan programs provide the same features as fixed and variable rate programs, and they additionally offer a lower payment option. With an interest only loan payment option, you pay only the interest portion of the payment but no principal.
An interest only loan can be more expensive compared to a fully amortized loan. Many lenders add a fee of one-quarter point for the interest only option. Interest only payment options allow you to qualify at the starting interest only payment. This gives you more buying power and a lower monthly payment compared to an amortized loan. You pay interest based on your principal balance. On an interest only loan, your principal balance does not decrease, therefore, you pay more interest with this option. :: CHECK OUT YOUR HOME'S VALUE :: All Listings :: MLS Search :: Email Updates :: Property Organizer Login :: Featured Properties :: Buyer's Resources :: Home Buyers Scouting Report :: Dream House Finder :: Free Buyer Reports :: Gov't Foreclosed-Hud Houses :: Seller's Resources :: Market Analysis :: Free Seller Reports :: Boulder-City :: Louisville :: Lafayette :: Superior :: Longmont :: Erie :: Broomfield :: Personal MLS Scouting Report :: Schools :: Private School Information :: Ask the Realtor :: Commercial Real Estate :: Restaurants-local :: Vendor Directory :: Newsletter :: Neighborhoods :: Calculators :: Weather :: Real Estate Terms :: Free Reports :: Contact :: About Peggy Spiro :: Guest Book :: Testimonials :: Submit Testimonial :: Divorce Resources & Real Estate :: Collaborative Divorce Process :: Divorce Professionals :: An Equal Opportunity Company. Equal Housing Opportunity. All rights reserved. 
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